Orient Overseas Container Line takes its total order for panamax ships at South Korea’s Samsung up to ten

In a statement to the Hong Kong Stock Exchange today, OOCL confirmed it had signed for a single vessel at a cost of $66.2m at the yard.  Though no vessel specifications were given this is the same price paid for its last batch of 4,500-teu ships contracted in April. Delivery of the vessel is due in 2009. The company is now arranging bank funding which will cover 80% of the vessel's total cost. OOCL first contracted for four ships of 4,500-teu in July 2006, and followed that up earlier this year with five more. It also has four post-panamax ships of 8,063-teu under construction at Samsung, a long-term favourite of the shipowner.